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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Lex Luther who wrote (5111)	5/13/1999 7:47:00 PM
From: Justa Werkenstiff	Respond to of 15132

Lex: Thank you for sharing the information. Re: "I was able to get into the conf. call even though I'm not an analyst and the guy from Needham was there." Yeah, next time I will be an institution calling. If they can pull the wool over my eyes because I am a shareholder, then I can return the favor. I will then tape it and broadcast it over the net <g>. Re: "The key thing that they left out of the article was that Richard Faubert clearly stated that their quarterly "break-even" revenue run rate was approx. $70 mil and once they reach the second half of 2000 their overall profit margin would be back to 14% to !6 % with gross margins of 44% to 46%." Welcome to forecasted breakeven profitability (70m breakeven x 4 qtrs = $280m). This puts SFAM in the asset play category occupied by LRCX. P/B and P/S are the appropriate ways to look at the company going forward for now. Re: "They failed to give any backlog information and the analyst's didn't press the issue. The analysts also forgot to ask what the actual realtime employee headcount was. Nobody bothered asking what the current bookvalue was but they did get cash on hand as being $145 mil which is significant." Not many seem to care about SFAM in the analyst community. That's why we got it on the cheap. Cash on hand will be burned some in next two quarters. I did not follow it today too much. Do you have any idea who was on the bid today? Saw Adam there. Saw Monty on the ask as well as Needam.